part of an article from USA today
"Ten years later, insiders press a different view of Enron"
"I know there were a lot of really good, solid, talented people who worked at Enron," she said. "But it was not a run on the bank."
The problems occurred, she said, when Enron decided to move beyond its roots as a pipeline company and expand into more risky ventures like energy trading. By the time investors and counterparties began abandoning the company in 2000, she says, the die was already cast.
"They were a company that was teetering and that was basically counting on its continued rise in its stock price for its survival."
Even Cindy Olson, the former human resources chief who worked at Enron from the time it was founded in 1985, acknowledges that by the time Enron reached its peak, the company had somewhat lost its way.
"We didn't require that some of the upper management people live the values of integrity, respect, communication," she said. "And I think that's what happened. I don't think we were true to our values."
Those values are laid out in a 1998 corporate video featuring Lay and Skilling titled "Enron Vision and Values." "There probably are times that there's a desire to cut corners," Skilling says. "We can't have that at Enron."
"Enron is a company that deals with everyone with absolute integrity," Lay adds. "We play by all the rules."
Copyright 2011 CNBC.com.
"Ten years later, insiders press a different view of Enron"
"I know there were a lot of really good, solid, talented people who worked at Enron," she said. "But it was not a run on the bank."
The problems occurred, she said, when Enron decided to move beyond its roots as a pipeline company and expand into more risky ventures like energy trading. By the time investors and counterparties began abandoning the company in 2000, she says, the die was already cast.
"They were a company that was teetering and that was basically counting on its continued rise in its stock price for its survival."
Even Cindy Olson, the former human resources chief who worked at Enron from the time it was founded in 1985, acknowledges that by the time Enron reached its peak, the company had somewhat lost its way.
"We didn't require that some of the upper management people live the values of integrity, respect, communication," she said. "And I think that's what happened. I don't think we were true to our values."
Those values are laid out in a 1998 corporate video featuring Lay and Skilling titled "Enron Vision and Values." "There probably are times that there's a desire to cut corners," Skilling says. "We can't have that at Enron."
"Enron is a company that deals with everyone with absolute integrity," Lay adds. "We play by all the rules."
Copyright 2011 CNBC.com.